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Questions and Answers
What does the Negotiable Instruments Act, 1881 define as negotiable instruments?
What does the Negotiable Instruments Act, 1881 define as negotiable instruments?
- Cheques, Treasury bills, and share warrants
- Promissory notes, bills of exchange, and cheques (correct)
- Bills of exchange, bank drafts, and certificates of deposit
- Promissory notes, bank drafts, and commercial paper
Under the Negotiable Instruments Act, 1881, how can the property in negotiable instruments be transferred?
Under the Negotiable Instruments Act, 1881, how can the property in negotiable instruments be transferred?
- By mere delivery only
- By endorsement and delivery only
- By mere delivery if it is a bearer or by endorsement and delivery if it is an order one (correct)
- By endorsement and delivery if it is a bearer or by mere delivery if it is an order one
According to the Negotiable Instruments Act, 1881, what is a promissory note?
According to the Negotiable Instruments Act, 1881, what is a promissory note?
- An instrument in writing containing an unconditional undertaking to pay a certain sum of money not affected by any defect in the title of any prior party
- An instrument in writing containing an unconditional undertaking to pay a certain sum of money to anyone who takes it bonafide
- An instrument in writing containing an unconditional undertaking to pay a certain sum of money freely transferable from one person to another
- An instrument in writing containing an unconditional undertaking to pay a certain sum of money to a certain person or the order of a certain person (correct)
What are some other instruments that satisfy the features of negotiable instruments as per the Negotiable Instruments Act, 1881?
What are some other instruments that satisfy the features of negotiable instruments as per the Negotiable Instruments Act, 1881?
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What does Sec. 13 of the Negotiable Instruments Act, 1881 define as a negotiable instrument?
What does Sec. 13 of the Negotiable Instruments Act, 1881 define as a negotiable instrument?
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